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Arcadia Land Realty orchestrates sale of distressed land assets in PA and DE; finds creative uses to achieve higher value.

A view of the Brandywine Springs Farm in Upper Uwchlan Township, Pennsylvania.

Arcadia Land Realty, our real estate brokerage affiliate, arranged for the sale of two distressed residential subdivisions that closed in June 2012. In both cases the original residential development plan was infeasible and the owner turned to Arcadia to identify more valuable alternatives.

Brandywine Springs Farm is a 57-acre approved subdivision for eight single-family estates. Earlier attempts to market the property for residential development had failed. Instead of pursuing the builder-developer market, Arcadia turned to public sector entities. A targeted marketing process produced two serious proposals. The Pennsylvania Turnpike Commission closed on the property in June 2012 for $1.3MM. Arcadia Land Realty served as agent for the owner.

Cascades is a fully-improved residential subdivision in Milford, DE originally planned for 80 single-family detached condominiums. Having performed more than a dozen market studies in southern Delaware over the last three years, Arcadia knew that market-rate single-family lots in peripheral markets like Milford were generally worth less than replacement cost. Arcadia believed, however, that affordable rental housing financed with low income housing tax credits would generate a greater land residual. Arcadia worked with the owner and the ultimate buyer, the Ingerman Group, to nearly double the density and develop the property in phases. The property closed in June 2012 for more than $1.0MM. Arcadia Land Realty served as agent for the owner.

Please contact Eric Carlson at (610) 664-0270 x23 for more information about Arcadia Land Realty's services.